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UnitedHealth sees Q3 revenue jump 12.4% YOY, lifts FY'18 outlook

UnitedHealth Group Inc. reported third-quarter earnings from operations of $4.59 billion, up from $4.09 billion in the year-ago period.

Net earnings attributable to common shareholders were $3.19 billion, or $3.24 per share, up from $2.49 billion, or $2.51 per share, in the prior-year quarter. Adjusted net earnings for the quarter were $3.36 billion, or $3.41 per share, compared to $2.63 billion, or $2.66 per share, a year earlier.

The S&P Global Market Intelligence consensus normalized EPS estimate for the quarter was $3.30.

Third-quarter total revenues increased 12.4% year over year to $56.56 billion from $50.32 billion, as premium revenue increased to $44.61 billion from $39.55 billion.

The third-quarter consolidated medical care ratio was 81.0%, a decline of 40 basis points year over year, with the return of the health insurance tax more than offsetting business mix changes and more moderate reserve development. Favorable medical reserve development of $50 million in the quarter was driven by $120 million in favorable development related to 2018, partially offset by $70 million in unfavorable development from 2017.

UnitedHealthcare grew to serve 2.8 million more consumers year over year in the third quarter.

The company now expects 2018 net earnings per share of $12.10, up from the prior range of $11.80 to $12.05, and adjusted net earnings per share of $12.80, an increase from the previously estimated range of $12.50 to $12.75.

The S&P Global Market Intelligence consensus normalized EPS estimate for 2018 is $12.70.

The company repurchased 1.9 million shares during the quarter.